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Living Trust Property Record Illinois Form

Living Trust Property Record Illinois Form

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- Hey, there's a lot of videos out there talking about funding your living trust and I have a few myself, but no one talks about what types of assets you should not put into your living trust. Well, in this video, I'm going to break that down for you. All right, let's get started. All right, so as I stated, when it comes to funding the living trust, we have this preconceived notion that we have to put all of our assets into our trust so they can bypass probate. However, there are some specific assets you definitely do not want to try to place into your living trust because it can cause negative tax ramifications, or worse yet, it could bring liability to you. So what is the first asset that you should not be placing into your living trust? Well, that is vehicles. And I mean things like cars, boats, equipment, mules, I dunno, I'm joking there. But the fact of the matter is is that anything that's a title asset that is a vehicle, there's no

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